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Widows gets go ahead for second Oeic conversion

Almost 100 per cent of Scottish Widows unitholders have voted in favour of the second stage of its proposal to convert its unit trust range to Oeics. More than 97 per cent voted for the conversion, which will see 24 unit trusts change to Oeics in September. Widows will shortly be writing to unitholders about the final stage, which is likely to see the remaining 20 unit trusts converted in November. Thirty were converted in the first stage in July.


Friends wins sole rights for Countrywide protection sales

Friends Provident has signed an exclusive distribution agreement for £25m with estateagency chain Countrywide in a bid to double its protection business. Countrywide has bought the 104 estate agencies in Southern England from Friends Provident for £21m. Under the terms of the deal, Countrywide, the UK&#39s biggest estate-agency chain, expects to get a further £250m […]

IFP and CP121

So the Institute of Financial Planning believes Sandler&#39s review approach is much more sensible than the plan in the FSA&#39s CP121. Nick Cann says that no product sale, no fee would put too much pressure on advisers to sell products. When is anybody going to realise that there are only two reasons that preference is […]

Let it be?

Is the Treasury wrong to leave buy to let out of FSA mortgage regulation? Davies No. Buy-to-let mortgages are quite clearly a commercial proposition and should be treated as such. What tends to muddy the thinking is the fact that a buy-to-let borrower is purchasing a home, albeit a property intended to be someone else&#39s […]

Zurich Group announces loss of £1.3bn

Zurich Financial Services Group today announced a loss after tax of £1.3 billion or $2bn in its half year results for 2002. It says this is a result of its strong premium growth and improved claims performance being more than offset by a significant decline in realised and unrealised capital gains and special provisions totalling […]


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